Trust Unit definition

Trust Unit means a unit of participation in a unit trust; and
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Trust Unit means units in the capital of the Trust;
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Trust Unit or "Unit" means a unit of the Trust issued by the Trust;
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Examples of Trust Unit in a sentence

  • For Trust Certificates that can together constitute a whole Trust Unit (i.e., for each one (1) Dividend Certificate and one (1) Asset Certificate) held by a Registered Owner as of the Record Date, that Registered Owner would receive such number and type of Spin-Off Securities distributed to the Trust with respect to one (1) Underlying Share (the “Trust Unit Spin Distribution”).

  • A Registered Owner as of the Record Date may only vote with respect to an Underlying Share Proposal that would effectively end the corporate life of Subject Corporation pursuant to a Transaction for Cash Consideration if, and to the extent that, such Registered Owner is an Eligible Trust Unit Holder and only with respect to its whole Trust Units.

  • Unbalanced Certificates: For Unbalanced Certificates, the Trust Administrator will instruct the Custodian to sell the Spin-Off Securities distributed to the Trust that remain after making the Trust Unit Spin Distribution described above.

  • If a Registered Owner’s applicable pro rata share would entitle it to a fractional number of Family Trust Units and/or Family Trust Certificates and the Trust Administrator determines that it is not practical, advisable, or desirable to have a fractional Family Trust Unit and/or Family Trust Certificate, then the number of Family Trust Units and/or Family Trust Certificates distributed to that Registered Owner will be rounded down to the nearest whole number or other unit of measurement.


More Definitions of Trust Unit

Trust Unit means a unit of the Trust, each unit representing an equal undivided beneficial interest therein;
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Trust Unit or "Unit" means a trust unit of the Trust and unless the context otherwise requires means Ordinary Trust Units;
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Trust Unit means a trust unit of the Trust created, issued and certified under the Trust Indenture and outstanding and entitled to the benefits thereof.
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Trust Unit means a trust unit of the Trust created, issued and certified hereunder and for the time being outstanding and entitled to the benefits hereof;
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Trust Unit means an uncertificated, undivided pro rata fractional interest in the Beneficial Interest, determined as hereinafter provided.
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Trust Unit means a unit of the Trust;
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Trust Unit is defined in the Agreement.
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